#韩国加密政策

### 1. The Effective and Implementation of the Virtual Asset User Protection Act

* **Effective Date:** This law will take effect on **July 19, 2024**.

* **Objective:** This is the first phase of South Korea's comprehensive regulatory framework for digital assets. Its main aim is to **protect investors** by imposing fines for price manipulation and other market abuse behaviors.

* **Main Contents:**

* **Customer Deposit Protection:** Requires exchanges to protect customer deposits.

* **Strengthening Custodial Responsibilities:** Enhances the asset custodial responsibilities of Virtual Asset Service Providers (VASPs).

* **Monitoring Suspicious Transactions:** Mandates the monitoring and reporting of suspicious transactions, strengthening Anti-Money Laundering (AML) regulation.

* **Prohibiting Insider Trading:** Strictly cracks down on insider trading, the use of non-public information, and market manipulation, with violators facing heavy penalties.

* **Future Outlook:** While the first phase focuses on user protection, the second phase (discussion has not yet begun) is expected to focus on market access and operations of virtual asset service providers, which may take longer to pass.